IOTUSD : Correction finished in Aug. New pattern now to 1.24$
Hi guys,
IOTUSD seems to have completed all levels. Every rules (as far as I know) are respected. From ABC to double zig zag to 1-5 waves every aspect of the theory are respected. If you look some of my last post i already did take positions but im aware of a little subewave 5 which would complete the B of our current structure. I did expect a last subwave 5 in BTC and sub wave 5 in BTS (which are the ones i follow the most) to complet their count too. I have the same results with IOTUSD
I did not work this chart to fit my other projection but strangely it matches my others projection hypothesis of a end of correction in August and I started to be bullish on others currency in september like BTS. IOT seems to match this idea too.
The temporary target seems to be 1.24 and i expect to be in at least 2 months time frame since this structure have a lot of sub structures. I will update the count to be more precise.
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To back up this move up lets check indicators
Daily MACD- higher low on the long term perspective - near positive spectrum
Weekly MACD - imminent bullish crossover projected with bullish divergence on histogram
Volume - spike of volatility in daily volume at the projected last C of the cycle and during our current structure - rising volume near the B which is a projected bounce toward 1.24 for C
RSI - strong recovery of oversold state at the projected end of correction in August -last sub wave 5 for B (our current structure) should go toward the lower limit of RSI soon then plenty of space for the bounce
_______________________
Last remark is we could start impulse sooner :
IOTUSD seems to have completed all levels. Every rules (as far as I know) are respected. From ABC to double zig zag to 1-5 waves every aspect of the theory are respected. If you look some of my last post i already did take positions but im aware of a little subewave 5 which would complete the B of our current structure. I did expect a last subwave 5 in BTC and sub wave 5 in BTS (which are the ones i follow the most) to complet their count too. I have the same results with IOTUSD
I did not work this chart to fit my other projection but strangely it matches my others projection hypothesis of a end of correction in August and I started to be bullish on others currency in september like BTS. IOT seems to match this idea too.
The temporary target seems to be 1.24 and i expect to be in at least 2 months time frame since this structure have a lot of sub structures. I will update the count to be more precise.
____________
To back up this move up lets check indicators
Daily MACD- higher low on the long term perspective - near positive spectrum
Weekly MACD - imminent bullish crossover projected with bullish divergence on histogram
Volume - spike of volatility in daily volume at the projected last C of the cycle and during our current structure - rising volume near the B which is a projected bounce toward 1.24 for C
RSI - strong recovery of oversold state at the projected end of correction in August -last sub wave 5 for B (our current structure) should go toward the lower limit of RSI soon then plenty of space for the bounce
Last remark is we could start impulse sooner :
Trade active:
Pretty convinced im correct. The 4h chart count and indicators say the same :
Potential bullish crossover onn the 4h will impact the projected bullish crossover on the daily
Potential bullish crossover onn the 4h will impact the projected bullish crossover on the daily
Trade active:
Trade closed: target reached:
seems to me that all waves are in. no 2 level 1-5
www.elliottwave.net/...cs_images/fig_13.gif